With demand for homes outpacing new listings, buyer competition continues to intensify. On average, there were four offers per home sold (closed) in February, according to NAR’s latest February REALTORS® Confidence Index Report, a monthly survey of REALTORS® about their transactions. One year ago, there were two to three buyers for every home sold. The intense competition has led to double-digit price growth and properties selling in record time. To get back to a healthy supply level equivalent to 6 months of monthly demand, an additional 2.7 million homes should be on the market for sale.